Tilray (NASDAQ:TLRY) Stock Price Down 4% – Should You Sell?

Tilray Inc (NASDAQ:TLRY)’s share price traded down 4% during trading on Tuesday . The stock traded as low as $0.93 and last traded at $0.94. 19,908,105 shares were traded during mid-day trading, a decline of 59% from the average session volume of 48,111,836 shares. The stock had previously closed at $0.98.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group raised their price target on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tilray has a consensus rating of “Hold” and an average price target of $2.70.

Tilray Trading Down 4.8 %

The company has a market capitalization of $874.84 million, a PE ratio of -3.12 and a beta of 2.07. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The business’s 50-day simple moving average is $1.24 and its two-hundred day simple moving average is $1.52.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The company had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts predict that Tilray Inc will post -0.2 earnings per share for the current year.

Insider Transactions at Tilray

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of Tilray stock in a transaction dated Friday, November 15th. The stock was acquired at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the transaction, the chief financial officer now owns 26,000 shares in the company, valued at approximately $35,360. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its stake in Tilray by 22.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock valued at $70,000 after purchasing an additional 7,339 shares during the last quarter. Bank of Montreal Can raised its position in Tilray by 0.3% during the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after acquiring an additional 7,406 shares in the last quarter. Newman Dignan & Sheerar Inc. lifted its stake in shares of Tilray by 61.9% in the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock worth $35,000 after buying an additional 10,000 shares during the last quarter. Pallas Capital Advisors LLC raised its stake in Tilray by 58.1% during the 3rd quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock valued at $52,000 after purchasing an additional 11,632 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Tilray during the 3rd quarter worth approximately $26,000. 9.35% of the stock is currently owned by institutional investors.

Tilray Company Profile

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.